Author: Team Gild

What You Need to Know to Protect Yourself, Your Staff and Your Clothing Boutique Business

The new winter line is here! Just in time for that falling snow outside. But with that snow comes customers with wet shoes that create puddles. Did you get those mopped up as soon as you saw them? Did you have a sign to warn customers of the potential danger? In the ever-changing retail industry, it is critical that you remain up to date on your top hazards and risks for your clothing boutique.

The Most Common Liability Claims

A liability claim occurs when a customer is harmed physically or otherwise due to the fault of the boutique. Did a customer fall and hit their head when they slipped on one of those puddles from earlier? According to NIOSH , retailers’ must begin to think about correlating their sales and the cost of an injury to other aspects of their business together.

• Slips, Trips and Falls – This is one of the most common injuries that occurs in a clothing boutique. While slips and falls can undoubtedly happen during training inclement weather, they can be just as common while people are simply walking around the store. Don’t forget to dry your feet on the rug!
• Falling Objects – Your new display of bags just arrived! Did you secure the display correctly? Unsecured displays or incorrectly installed fixtures can cause injuries. Watch out below!
• Employment Practices – If you have employees, this exposure is ever present. Should a current or former employee accuse you of wrongful termination, discrimination, or workplace harassment and retaliation, it can prove to be very costly.

Business Insurance is Your Friend

If the scenarios we mentioned above made you more than a little concerned about all your potential risks, don’t fret. Everything we listed above was simply meant to outline the most common claims we see in the retail industry so that you can do your best to prepare yourself for them.  

To learn more about the risks of operating a small business, check out “The Gild Guide: Most Common Small Business Insurance Questions”
 
Remember, if you need help preparing yourself, your friends at Gild Insurance are never more than a click away. We combine the latest technology with experience to provide business insurance options that fit your business. We help clothing boutique owners like you find the business insurance coverages they need!

What You Need to Know to Protect Yourself, Your Staff and Your Business

Running a coffee shop is fast-paced, requiring balance between beverage craftsmanship and customer service. Coffee trends are constantly evolving and it can be hard to please coffee lovers across generational and regional interests.

Are your customers looking for ethically sources beans? Have you been pricing out a nitro machine to adapt to the increased popularity of nitro coffee? Research shows nitro coffee and cold brews were basically nonexistent in 2015 however, now 1 in 5 Americans under 40 years old consume at least one of these beverages every week. This is just one example of a possible exposure change in your operations that could present challenges.

The Most Common Liability Claims

A liability claim occurs when a customer is harmed physically or otherwise due to the fault of your coffee shop. What happens if a customer accidentally spills their fresh beverage and someone else slips on it before you get a chance to clean it up? Ouch! It sounds like she may have twisted her ankle.

• Slips, Trips and Falls – This is one of the most common injuries that occurs in a coffee shop. Remember that slip from earlier?
• Falling Objects – The new merchandise you ordered has arrived! You think you carefully stack all those new coffee cups and beans nicely for your customers. Crash! The display falls over on top of one of your customers. Are they hurt?
• Employment Practices – If you have employees, this exposure is ever present. Should a current or former employee accuse you of wrongful termination, discrimination, or workplace harassment and retaliation, it can prove to be very costly.

Business Insurance is Your Friend

If the scenarios we mentioned above made you more than a little concerned about all your potential losses, don’t fret. Everything we listed above was simply meant to outline the most common claims we see in the coffee industry so that you can do your best to prepare yourself for them.  

To learn more about the risks of running a coffee shop, check out the Gild Team’s article “Sip With Confidence: Navigating The World Of Coffee Shop Insurance“. 

Remember, if you need help preparing yourself, your friends at Gild Insurance are never more than a click away. We combine the latest technology with experience to provide business insurance options that fit your business. We help coffee shop owners like you find the insurance coverages they need!

Sources

“NCA Releases Atlas of American Coffee.” NCA We Serve Coffee. Accessed 19 Nov 2023. https://www.ncausa.org/newsroom/nca-releases-atlas-of-american-coffee

What You Need to Know to Protect Yourself, Your Staff and Your Business

Yum! Who doesn’t love baked goods? According to bakemag.com, the most popular items sold in bakeries are cakes at 24%. For full line retail bakeries, these cake products can be found in their traditional form, by the slice and as cake pops. With new bakery innovations comes new equipment and training which can present new risks and exposures. Running bakeries can be demanding enough, so we at Gild Insurance decided to take researching the most common types of liabilities you do face off your plate.

The Most Common Liability Claims

A liability claim occurs when a customer is harmed physically or otherwise due to the fault of the bakery. A part of owning a bakery is experimenting with new tastes and textures but what you shouldn’t experiment with is protecting your business interests and assets. It starts with being informed about what could happen. Below are some examples we’ve prepared for you:

• Slips, Trips and Falls – This is one of the most common injuries that occurs in a bakery. What a beautiful, freshly mopped floor. Jill, your employee, did an amazing job getting it done right before open and the morning rush. Who needs an old “Slippery When Wet” sign? The doors burst open with customers flooding in and one takes a tumble due to the wet floors. What now?
• Falling Objects – With no shortage of shelving in your bakery to show your beautiful pastries off nothing could go wrong, right? Especially since you’ve leaned in to the open shelving trend! As a customer reaches for the top shelf piece they sturdy themselves on another and all comes tumbling down on top of the customer causing an injury. Was this your fault? Either way this is heading to trail, cost of defense can be crushing even if you win.
• Employment Practices – If you have employees, this exposure is ever present. Should a current or former employee accuse you of wrongful termination, discrimination, or workplace harassment and retaliation, it can prove to be very costly.

Business Insurance is Your Friend

If the scenarios we mentioned above made you more than a little concerned about all your potential losses, don’t fret. Everything we listed above was simply meant to outline the most common claims we see in the baked goods industry so that you can do your best to prepare yourself for them.  

To learn more about business insurance risks for small business owners, check out “The Gild Guide: Most Common Small Business Insurance Questions”.
 
Remember, if you need help preparing yourself, your friends at Gild Insurance are never more than a click away. We combine the latest technology with experience to provide business insurance options that fit your business. We help bakery owners like you find the insurance coverages they need!

Welcome, coffee entrepreneurs! You’ve built a bustling coffee shop. Now, it’s essential to safeguard your passion and hard work.

In this blog post, we’re diving into the world of business insurance for coffee shops. Grab your favorite brew. Let’s explore how you can sip with confidence and keep your business protected.

Understanding Insurance for Coffee Shops:

Running a coffee shop involves lots of activities! It is serving up delightful lattes. It is managing a team of baristas. Also, with the joy of entrepreneurship comes the responsibility of addressing potential risks. Here are three main areas to explore with the basics of coffee shop insurance:

General Liability Insurance

Business Owner’s Insurance

Worker’s Compensation Insurance

General Liability Insurance: A Cornerstone of Protection

General liability insurance provides coverage for three main topics. These are bodily injury, property damage, and personal injury of customers. Basically, the usual accidents in a coffee shop are what you might guess! A customer slipping on a spilled latte. A claim related to the quality of your product. Having this coverage in place is crucial for safeguarding your business.

Business Owner’s Insurance: A Full Bodied Approach

Most coffee shop owners invest lots of time, effort, and money into the equipment and inventory of your business. Upgrade to a business owner’s policy to protect that property!

Business owner’s insurance provides the protections of general liability with property protections! It is important to remember that property doesn’t just mean a building. For a coffee shop owner, property includes coffee machines, cups, syrups, and even the beans!

Worker’s Compensation Insurance: Brew Peace Of Mind

Worker’s compensation insurance provides benefits to employees injured on the job. Benefits may cover medical expenses, lost wages, and even disability. Additionally, it is often a legally REQUIRED, coverage for your coffee shop.

Why Coffee Shop Insurance Matters:

• Peace of Mind: with the right insurance coverage, you can focus on the perfect espresso shots. Spend more your time on your shop, not your risks!
• Financial Protection: insurance helps lessen the financial impact of liability claims, property damage, or other unforeseen circumstances. It helps not break the bank!
• Perfected Business Practices: many landlords may require proof of insurance. Having the right coverage ensures you’re meeting contractual obligations.
• Legal Compliance: having the right coverages keeps your business legal. Do not break state law!

To learn more about coffee shop insurance, check out:

“The Most Common Liability Claims for Coffee Shop Owners”.

“The Gild Guide: Most Common Small Business Insurance Questions”.

If you need help, your friends at Gild Insurance are a click away! We combine the latest technology with experience to provide business insurance options that fit your business.

We help coffee shop owners like you find the insurance coverages they need!

Picture this: you are leading a Pilates session. Sarah, one of you clients is trying out a new exercise. You recommend she adjust her front leg and she takes your advice. She yells out in pain. Ouch! Now she needs to make a trip to urgent care to be evaluated. Was it your advice that caused the injury?

Your advice could be the difference between doing something right or wrong. You are the professional and your clients trust you.

The Most Common Professional Liability Claims

What are the most the most common professional liability claims?

• Negligence – In the fitness industry, professionals can make an error that harms someone. Remember our story about Sarah?
• Misrepresentation – Did you advise a client that a certain diet would help them gain muscle and lose weight? What if that recommendation caused a serious health issue?
• Incorrect advice – You shout, “Line up on the wall for handstands!” Closer to each other!” Suddenly, one client falls which causes everyone to fall. Now there are numerous injuries. Did you tell them to get too close? Is that what caused the injuries?

Which Fitness Professionals Need Insurance

If you are a studio owner it goes without saying that you need insurance. Chances are you might already have some coverage. What about personal trainers and instructors? Do they need insurance too? The answer is yes. AdvisorSmith reported that 3 in 4 small businesses encountered an insurable event in the year 2020. With those sorts of odds, you want to make sure everything you have worked for is protected. Maybe you have even established a concussion protocol in the event of an accident. And you may even have liability insurance to help you with other claims.

Business Insurance is Your Friend

Feeling overwhelmed now? There’s no need to panic. Everything we listed above was simply meant to outline the most common professional liability claims we see in the fitness industry. Our job is to best protect you from them.
 
To get the help you need and deserve, your friends here at Gild Insurance are a click away! We combine the latest technology with experience to provide business insurance options that fit your business.

To learn more, check out:

A Guide To Developing A Concussion Protocol

The Most Common Liability Claims For Fitness Studio Owners

Whichever your focus, a fitness instructor, studio owner, or personal trainer, Gild is here to help fitness professionals like yourself find the insurance products you need!

Sources

• Chen, Patrick. “Survey” 3 in 4 Small Businesses Faced an Insurable Event in 2020,” 26 Apr 2021, https://advisorsmith.com/data/small-business-claims-statistics/